#6 Tom DeMark Trend lines
Submitted by Edward Revy on June 25, 2009 - 15:48.
This is a well know trend line breakout strategy by Tom DeMark.
The only difficulties traders had earlier were all about constantly drawing trend lines and calculating profit targets.
With a help of custom MT4 indicator this problem was solved.
Two variations of the same indicator:
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Hi Andris,
Certainly try MT4.
I use both platforms, where MT4 helps me to analyse the market with all different kinds of custom indicators which are not available on FXTrade.
Its a whole new world of indicators, which you'll be overwhelmed and excited with once you start using MT4.
Happy trading and exploring!
Edward
Hi there Edward and all of you!
Good job on the site you have done!
Have been looking this strategy in action and looks potential winner though.
Beside good impressions shared - is there anyone traded this style long enough to provide data - profitability, drawdowns, etc.
Thanks to all.
Live well!
KFX Industry
Thank you KFX,
I expect some forward-backward testing feedback from our visitors. While I do initial tests, they are insufficient for a long term reports, besides I often include my own bits of tests and ideas during the process. That's just the way I can keep up with the strategies flow on the site.
Kind regards,
Edward
Go with trend
Draw a trend line on any pair and any time frame chart.
1.Wait till the the bar close above trend line for up trend and below for down trend.
2.If current Rate is above trend line give Buy order and if it is below trend line give sell order with stop loss at trend line.
3.Trail the stop loss as per trend line.
4.If any order close in Stop Loss give OCO order buy @ 20 Pips above trend line and sell @ 20 Pips below trend line with Stop Loss at trend line.
5.Avoid Range bound pair. Select another ranging pair for maximum profit.
Regards,
M.S.Deshmukh.
oco?
OCO = Order cancels order.
Not all platforms have OCO orders option. MT4, for example, doesn't.
Thomas
They are a marvel of indicadores. Definitivamente TOM DeMark is a genius of forex.
Thank you very much,
Rudolph
Tom Demark TD indicator 3 is excellent, I have been very successful.
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